This stock has gained 32% so far in the current year! The uptrend is likely to continue in the future as well:

News Topical, Digital Desk : Semiconductor manufacturer Broadcom has recently released better-than-expected results for the third quarter of the financial year and has also expressed the possibility of further strength in the current quarter. The company's shares have also risen significantly at present. A $ 10 billion order from a client is believed to have contributed to this.

How much did the share grow
Broadcom's shares have registered a 32% increase from the beginning of the year to Thursday. That is, the stock has almost doubled in the last 12 months. Due to this, the company's market cap has crossed $ 1.4 trillion.

Revenue and earnings In the company's third quarter, earnings per share (EPS) was $ 1.69 while revenue was $ 15.96 billion. During this period, the company has earned an income of $ 4.14 billion. Whereas a year ago it had a net loss of $ 1.88 billion.

What's next? Broadcom said that it expects revenue of $ 17.4 billion in the fourth quarter, which is more than the Wall Street analysts' estimate of $ 17.02 billion. Broadcom develops custom chips for Google and other cloud companies. Apart from this, AI chips are also included in the company's portfolio. The company's investors believe that it can compete with Nvidia in the coming years. Broadcom CEO Hock Tan said the company is developing new AI chips with three major cloud customers and he expects AI growth to continue into next year. Tan said in a conversation with analysts that Broadcom has received a $10 billion order from a client for its custom AI chips (XPUs). Tan said he expects AI revenue to reach $6.2 billion this quarter. The company said its chip sales, reported as semiconductor solutions, grew 57% to $9.17 billion. Broadcom's infrastructure software business, which includes VMware, saw revenue grow 43% to $6.79 billion.